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Rachel has top designs on the West End
New platform
for selling art
in the works
Scots start-up secures £300k investment
Ian GeorgesonBy ARCHIE STEPHENSCOTTISH START-UP business Trademylux
Limited has secured a £300,000 investment
from TRICAPITAL Angels Limited and
Scottish Enterprise as it launches the first in a
series of luxury goods resale platforms.
Trading as sellmyartworks.com, the first
venture will focus on the art resales market and
is a prelude to rolling out other luxury goods
resale platforms as the company matures.
The online platform removes the need to sell
valuable pre-loved art through traditional
auction houses or other less trusted routes by
providing a transparent, secure and cost
effective way of acquiring and disposing of art
work, thereby creating liquidity and promoting
further art transactional activity.
According to Edinburgh-based founder Bob
Corsie, the few existing UK online art resellers
focus on a limited number of well-known
artists at the top end of the market, meaning
there are tens of thousands of art worksoverlooked. Sellmyartworks aims to fill this
void and the business anticipates first year sales
of more than 300 art works followed by a
strong growth trajectory.
He said: “This is a project we have worked on
for several years but was put on ice because of
the Covid pandemic and we are now delighted
to be supported financially and strategically by
TRICAPITAL and Scottish Enterprise.
“There is a real demand for an easy-to-use,
secure and equitable art resale service with
thousands of people wanting to dispose of art
for multiple reasons - downsizing, unwanted
gifts, inheritance or just simply they’ve fallen
out of love with the piece.
Similarly, there is burgeoning demand on the
customer side which we can satisfyeasily and
cost effectively.
“Often with auction house sales, the
final hammer price is a very poor reflection
on the actual value and once high costs
and commissions are deducted, the buyer
is shocked at the total they have to pay,while the seller is left disappointed.”
Corsie explained sellmyartworks assesses a
number of factors, including current trading
prices for individual artists, the overall
popularity of the artist, auction house results,
and where and how the art work should be
listed. The original artist will also receive a
royalty through the Artist’s Resale Right.
“There are many people who own art pieces
they no longer want - collectively worth
millions of pounds - but they don’t have a
satisfactory way of disposing of them. This
creates a choke point in the market because
they’re reluctant to go and buy more art, but
our platform will create liquidity by giving
the seller a sensible return so that they can
invest in more art, which benefits the whole
art industry.”
Stringent checks to establish proof ofidentity, ownership rights and authenticity of
the art work listed on sellmyartworks.com are
in place and will adhere to UK Government
and international guidelines.
“This is a simple, fast, affordable and
accessible way to buy and sell pre-loved art
work and it is a win-win-win for seller, buyer
and the original artist,” added Corsie.
TRICAPITAL Angels Limited CEO, Moray
Martin, said: “We are delighted to be able to
support Trademylux as it sets out on the first
chapter of what looks like an exciting journey.”
Kerry Sharp, Director of Entrepreneurship
and Investment at Scottish Enterprise, said:
“Trademylux has a unique proposition,
deploying modern technology to support the
continued success of an age-old industry. We
look forward to witnessing the company’s
progress as it launches its online platform.”From l-r: Investor Moray Martin of
TRICAPITAL and Trademylux directors
Bob Corsie and Brian McCrindleBy PHYLLIS STEPHENRACHEL SCOTT is a name well
known on Dundas Street where
finding a designer wedding dress
shop has made many dreams
come true in the last two decades.
Now the firm is branching out
with a new quirky space on
Queensferry Street in the West End.
Recognising the need for
something more bespoke in
evening wear than is available
anywhere else in Scotland, and
having long been asked by her big
name suppliers and her customers
to do so, owner Rachel Snedden
will offer designer evening dresses.
The shopping experience is one
personal to the client and Rachel
and her three strong team will help
create the look which works for
those who are going to the ball, or
who are about to be the mother of
the bride or groom - from top totoe. Rachel also makes her own
tiaras and jewellery to complete
the individual outfits.
After a flurry of measuring and
design input, the couture outfit will
be made from scratch to individual
requirements.
A lover of themes which do not
always fall in line with traditional
expectations, Rachel has chosen tofit out the new shop with gym
equipment. The entrance is
reclaimed gym flooring, and
yes, the mannequin in the
window is doing a handstand
while wearing a sparkly
evening gown.
Rachel's new premises
will show off colourful
cocktail dresses and black
tie gowns on the racks
for customers to try
before their own
couture dress is then
created.
Clients who wish to
explore the collection can
book a private
appointment with Rachel
at the boutique from
Thursday 1 February.
There is an open weekend
on Saturday 3 – Sunday 4
February when everyone
is invited andappointments are not
necessary.
Rachel said: "I have looked
before at opening up a non
bridal shop, doing
something more classic with
ready to wear. But I have
always struggled with the
idea that someone might
have to just put a dress
back on the rail and leave
if it just doesn't fit. I like to
maintain a level of
bespokeness and flexibility for
my clients. I have had an
amazing opportunity to work
with some incredible designers,
and they are the best at what
they do. The makes we will offer- from collections by Vivienne
Westwood, Temperley and
Suzanne Neville are only
available in London apart from
here in our new shop."
http://www.rachelscottcouture.co.uk
Rachel Snedden